If you are already long near the trendline support can keep 820 as a trail sl.
Regards
Rish
Wednesday, June 11, 2008
>ONGC
ONGC today almost touched its support trendline and saw a smart recovery from there this recovery can target 880-900 in coming days,Chart is attached
If you are already long near the trendline support can keep 820 as a trail sl.
Regards
Rish
If you are already long near the trendline support can keep 820 as a trail sl.
Regards
Rish
Thursday, June 05, 2008
>SBI Analysis
SBI witnessed continuous selling from 1800 levels
Todays it breached its long term trend line support intra day but smartly recovered back to close above that,Since a support is tested once we are usually in for a rise the immediate resistance for the stock comes at 1400-1410 .
From Elliot wave prospective it looks like a clear 5 down with the last leg is finished or not is debatable A chart is attached to show it graphically.
Regards
Rish
Todays it breached its long term trend line support intra day but smartly recovered back to close above that,Since a support is tested once we are usually in for a rise the immediate resistance for the stock comes at 1400-1410 .
From Elliot wave prospective it looks like a clear 5 down with the last leg is finished or not is debatable A chart is attached to show it graphically.
Regards
Rish
>SESAGOA
Sesa goa completed a Triangle and broke down
News of Tax on iron ore added fuel and once the support of 3900 was broken it slipped badly,A good support zone is nearing at 3500-3450 if this holds stock can see some recovery else may turn sideways for some time a chart is attached to show it graphically.
News of Tax on iron ore added fuel and once the support of 3900 was broken it slipped badly,A good support zone is nearing at 3500-3450 if this holds stock can see some recovery else may turn sideways for some time a chart is attached to show it graphically.
Monday, June 02, 2008
>ORCHID CHEMICAL Analysis
Orchid chemical undergoing its corrective correction after corrective rally (B up)so probably C down underway according to Elliot wave analysis and older post on orchid when the pattern was still new can be checked at ORCHID B up
An updated chart is attached to try to foresee the movement of the script price in coming weeks
as it can be seen that slanting trend line is broken downwards which suggests a move towards 200 to 180 which is a good support for the stock so if you are holding longs in this script be ready to book small loss if you are a trader else this could be a pain full journey downward for this script ,Option traders can buy 200 strike put try to buy it cheap if a rise is seen to get maximum benefit from this analysis.
Regards
Rish.
An updated chart is attached to try to foresee the movement of the script price in coming weeks
as it can be seen that slanting trend line is broken downwards which suggests a move towards 200 to 180 which is a good support for the stock so if you are holding longs in this script be ready to book small loss if you are a trader else this could be a pain full journey downward for this script ,Option traders can buy 200 strike put try to buy it cheap if a rise is seen to get maximum benefit from this analysis.
Regards
Rish.
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